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Fix Crowdfunding Act
(Sec. 2) This bill amends the Securities Act of 1933 to allow a crowdfunding issuer to sell shares through a crowdfunding vehicle.
(Crowdfunding is a method of capital formation in which groups of people pool money, typically composed of small individual contributions, and often via Internet platforms, either to invest in a company or to support an effort by others to accomplish a specific goal.)
A "crowdfunding vehicle" is a company that:
has purposes limited to acquiring, holding, and disposing securities issued by a single company in one or more transactions and made pursuant to crowdfunding exemption transaction requirements;
(Sec. 3) The bill amends the Securities Exchange Act of 1934 to revise the conditions upon which the Securities and Exchange Commission (SEC) shall exempt securities issued in crowdfunding transactions from SEC registration requirements.
Under current law, holders of crowdfunded shares do not count toward the shareholder threshold beyond which an issuer is required to register its securities with the SEC, provided that the issuer: (1) is current in its annual reporting obligations, (2) retains the services of a registered transfer agent, and (3) has less than $25 million in assets. The bill maintains this exemption but removes and replaces the conditions upon which it applies. Specifically, holders of crowdfunded shares shall not count toward the shareholder threshold if the issuer has: (1) a public float of less than $75 million, and (2) annual revenues of less than $50 million.
Written by the nonpartisan Congressional Research Service, describing H.R. 4855 as passed House amended on Jul 5, 2016. It is not the text of the measure; a later amendment may have changed what it does.
House Jul 5, 2016
Fix Crowdfunding Act
Passed · Two-thirds required
394 Yea 4 Nay 35 not voting
Crossed both parties 4 of 398 voting members broke with their own party: 4 Democrats.
DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present
433 members on this roll call, from the official House record. Party majorities need at least five voting members, so an independent never counts as breaking with a party.
Signing on is not a vote: a member can cosponsor H.R. 4855 and vote against it. 0 signed when it was filed.
Organizations that named H.R. 4855 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.
20 disclosures name this measure. Retrieved from LDA.gov on 2026-10-05. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.